Retirement fund body EPFO added 13.40 lakh members on a net basis in March, taking the total addition to 1.39 crore in 2022-23, according to payroll data released on Saturday. EPFO had added a total of 1.22 crore members on a net basis in 2021-22. Out of 13.40 lakh members added during the month of […]
By Chirag Nangia * My wife is a homemaker, and I file her return under the basic exemption limit. Can I transfer a lump sum amount to her account on which I have paid tax already and then she makes the investment in her name such as buying a property, investing in FDs, bonds, shares […]
Regulator Irdai has constituted a task force to facilitate ease of doing Know Your Customer (KYC) by insurers using Aadhaar, the 12-digit individual identification number. In a circular, the Insurance Regulatory and Development Authority of India (Irdai) said presently, the UIDAI framework allows insurance companies to indentify the customer by using his/her Aadhaar with consent […]
Mutual Fund (MF) is considered as a safer way to venture into equity markets compared to direct investments in stocks. This is because equity-oriented MF schemes provide a ready-made diversified portfolio managed by professional fund managers. As a result, salaried individuals and persons engaged in other professions may invest without the worry of studying and […]
Planning for retirement is one of the goals that we pursue to live a comfortable life after we retire. However, retirement only puts a comma in the daily expenses and not a full stop. Thus, experts say it is important to keep on making and achieving your financial goals post-retirement. Anup Bansal, Chief Business Officer, […]
As one of the fastest developing economies in the world, India is at the center of global interest. Investors and institutions vying for the India opportunity are prompting an uptick in income and status levels among the working Indians. Millennials, comprising 46% of the workforce at present, are the primary beneficiaries of this development. Based […]
Robust sales and restricted new supply helped the National Capital Region (NCR) outpace the other top cities in reducing its housing inventory overhang by 53 months, shows latest ANAROCK Research. NCR’s inventory overhang stood at 80 months as of Q2 2021, and reduced to 27 months in Q2 2022. Since Q1 2015, Q2 2022 has […]
The Central Board of Direct Taxes (CBDT) on Thursday issued guidelines seeking to address likely issues emanating from application of the newly introduced section 194R of the Income Tax Act for withholding 10% tax (TDS) on benefits or perquisites from non-salary sources. The new provision part of the Finance Act 2022 will become effective from […]
The Employees’ Provident Fund Organisation (EPFO) will soon start crediting 8.1% rate of interest for 2021-22 to its members as the finance ministry has ratified the rate proposed by the retirement fund body in March. In March, the Central Board of Trustees (CBT), the highest decision-making body of the EPFO, decided to lower the interest […]
Rents in the residential market in India increased 4% quarter-on-quarter for the three months ended March 2022, signalling an improvement in the rental housing market with offices opening and people returning to their base work locations. According to a report by Magicbricks, searches for rented accommodations in India increased 15.8% sequentially and 6.7% year-on-year in […]